According to the new research report published by The Insight Partners, titled “OLED Market - Global Analysis and Forecast to 2025”, the global OLED market is expected to reach US$ 39.0 billion in 2025, registering a CAGR of 12.2% during the forecast period 2015-2025.
In 2015, Asia-Pacific accounted for the largest revenue share of more than one-third of the total market share, followed by North America.
The growth in the Asia-Pacific region is highly attributed to the huge adoption across the end-user sectors and long life-span.
OLED technology has ushered the new era of transparent, flexible, low energy consuming and large area display and lighting products. Till date, the flexible OLEDs are being utilized in wearable devices and smartphones providing curved designs to enhance its ergonomic features of the application. The fixed curved display facilitates a user with much-contented experience when wearing or holding the device. Along with providing better utility the technical aspects of the bendable OLED are also taken care of by providing appropriate flat room for better configuration of the other components such as battery and circuits. The OLEDs due to its flexibility are capable of being produced using roll-to-roll manufacturing process. Production of durable OLEDs takes better material and systemized development of manufacturing processes and tools. Improvisation of barrier layers for flexible plastic substrates is required to protect the plastic substrate from moisture and oxygen. Also, to create a flexible glass and metal-based OLED a thin-encapsulation is needed. The efficient, clear and bright OLED market is expected to grow, and several consumer durable companies are working on their R&D to cope up with the dynamically changing market trends. Efforts for significant development are being capitalized in this area to make flexible OLED panels available commercially in coming years.
The global OLED market has been segmented based on application, i.e., OLED display and OLED lighting. The organic displays in the market are still expensive, but prices are falling as the technology matures and volumes ramp up. Current improvements to display performance have resulted in enhanced product competitiveness, it is expected that the demand for smaller OLEDs for mobile devices, especially smartphones, will continue to grow at a healthy pace.
Key findings of the study:
Asia Pacific is anticipated to account the largest market share of the OLED market and is expected to register a CAGR of 13.2%
Based on the type, the AMOLED segment is expected to witness high year on year growth during the forecast period
Countries such as China and India are expected to be the most attractive market by the end of the forecast period
North America holds the second largest market share. Within North America, the US dominates the total revenue share of the market, owing to the spending capacity of the population and being a developed economy, the country is an early adopter of the latest technologies. The country is anticipated to continue its leadership during the forecast period by acquiring 51.3% of the total North American market growing at a high CAGR.
The key companies profiled in this report include FUTABA CORPORATION, Samsung Electronics Co., Ltd., Universal Display Corporation, Kunshan Visionox Display Technology Co., Ltd, DLC Display Co., Limited., Pioneer Corporation, Sony Corporation, Koninklijke Philips N.V., Acuity Brands Lighting Inc., SEIKO EPSON CORPORATION, Innolux Corporation, OLEDWorks LLC, LG Electronics Inc., OSRAM GmbH, and RITEK Corporation.
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